Fountainhead AM LLC Buys New Shares in Maplebear Inc. (NASDAQ:CART)

Fountainhead AM LLC purchased a new position in shares of Maplebear Inc. (NASDAQ:CART - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 12,245 shares of the company's stock, valued at approximately $488,000.

Other hedge funds also recently modified their holdings of the company. Proathlete Wealth Management LLC purchased a new position in shares of Maplebear in the 1st quarter worth about $26,000. NewEdge Advisors LLC raised its stake in shares of Maplebear by 277.9% during the fourth quarter. NewEdge Advisors LLC now owns 975 shares of the company's stock worth $40,000 after acquiring an additional 717 shares in the last quarter. UMB Bank n.a. lifted its holdings in shares of Maplebear by 914.1% in the 1st quarter. UMB Bank n.a. now owns 1,004 shares of the company's stock worth $40,000 after acquiring an additional 905 shares during the last quarter. Spire Wealth Management bought a new stake in shares of Maplebear in the 1st quarter worth approximately $41,000. Finally, CWM LLC lifted its holdings in shares of Maplebear by 35.1% in the 1st quarter. CWM LLC now owns 1,058 shares of the company's stock worth $42,000 after acquiring an additional 275 shares during the last quarter. Institutional investors own 63.09% of the company's stock.

Insiders Place Their Bets

In other Maplebear news, General Counsel Morgan Fong sold 4,680 shares of the company's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $43.90, for a total value of $205,452.00. Following the completion of the transaction, the general counsel directly owned 456,680 shares of the company's stock, valued at $20,048,252. This represents a 1.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Fidji Simo sold 14,233 shares of the firm's stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $47.86, for a total transaction of $681,191.38. Following the sale, the chief executive officer directly owned 2,032,005 shares of the company's stock, valued at $97,251,759.30. The trade was a 0.70% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,387 shares of company stock worth $1,310,570 over the last ninety days. 26.00% of the stock is owned by company insiders.

Analyst Ratings Changes

CART has been the subject of several recent research reports. JPMorgan Chase & Co. lowered their price target on shares of Maplebear from $50.00 to $44.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Robert W. Baird boosted their target price on Maplebear from $47.00 to $52.00 and gave the company an "outperform" rating in a research note on Thursday. Barclays increased their target price on Maplebear from $58.00 to $61.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. Citigroup lifted their price target on Maplebear from $55.00 to $57.00 and gave the stock a "buy" rating in a research note on Tuesday, May 13th. Finally, Wall Street Zen lowered Maplebear from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Eleven equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Maplebear currently has a consensus rating of "Moderate Buy" and a consensus target price of $51.95.

Maplebear Trading Up 1.5%

Shares of Maplebear stock traded up $0.74 on Friday, reaching $49.11. 3,356,560 shares of the stock were exchanged, compared to its average volume of 3,963,298. The firm has a market capitalization of $12.89 billion, a PE ratio of 32.31, a PEG ratio of 2.07 and a beta of 1.21. Maplebear Inc. has a 1-year low of $29.84 and a 1-year high of $53.44. The business has a fifty day moving average price of $45.93 and a two-hundred day moving average price of $44.32.

Maplebear (NASDAQ:CART - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.01). The firm had revenue of $897.00 million for the quarter, compared to analyst estimates of $896.86 million. Maplebear had a return on equity of 14.12% and a net margin of 12.45%. The company's quarterly revenue was up 9.4% compared to the same quarter last year. During the same period last year, the firm earned $0.43 EPS. Research analysts expect that Maplebear Inc. will post 1.43 EPS for the current year.

Maplebear Company Profile

Maplebear Inc, doing business as Instacart, engages in the provision of online grocery shopping services to households in North America. It sells and delivers grocery products, as well as pickup services through a mobile application and website. It also operates virtual convenience stores; and provides software-as-a-service solutions to retailers.